Marketgeometry

Thursday, July 12, 2007

Better than a sharp stick in the eye 7/12/2007




Today proved I still have the mental problem of being gun shy after a bad day and a string of losing days. I, as I nearly do everyday, picked on the Big Mouth stocks. First on board was EMC popping about 40 cents or so. The after hours high has 19.47 so just short that would be a good place to short. I did not think there was going to be much of a pop so I had orders in at 19.42, 19.45 and 19.50. I was debuting about having orders also in at 14.55 and 14.60. Well, the pop happened and faster and harder than I expected. I did not put the other orders in because fear hit me. I got filled quickly on the 3 orders and was down 450 for a brief moment. As it moved up, I saw the volume slow. I just kept saying "don't do anything - don't do anything - don't do anything" but once the pressure was off, I wanted to get out of dodge quickly so as the stock fell I covered. I made 90 bucks but if I followed the game plan and had the other orders in and sat on my hands larger - it would have been a very good trade.
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So while I was going mental on EMC, APD didn't go down the way I expected it to. About a week of so ago I came to the conclusion that once the Big Mouth puts a stock in play, it will either do well on the upside or downside. It did not go down so on the dark line on the above chart, that should have been by buy zone.
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The two other charts were stocks I watched closely and did nothing even thou the trading Gods gave so much time to get in.
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The numbers - Gross +74 net +14 shares traded 8000.


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